Newmont (NEM) stock experienced a significant rise of 26% during a turbulent week for investors, benefiting from a surge in gold prices, which recently reached a record high of over $3,220 per ounce. Analyst Daniel Major upgraded Newmont’s rating to buy and increased its price target to $60, reflecting optimism as the company anticipates achieving its 2025 guidance. Despite recent operational challenges and high costs, Newmont’s acquisition of Newcrest has bolstered sales, with expectations for $2.5 billion in cash proceeds from asset sales, though concerns remain about production costs impacting future growth.
